Malaysian business licence·Federal
Settlement Approval (KP)
Issued by Jabatan Akauntan Negara MalaysiaCompanies Act 1965
Overview
The Settlement Approval license allows approved company auditors to apply to the Minister of Finance to be recognized as a resolver under the Companies Act 1965. This license is essential for those wishing to operate as a resolver in insolvency or corporate restructuring in Malaysia.
Key details
Governing Act
Companies Act 1965
Agency fees
RM 50 processing + RM 50 renewal every 2 years
Validity
2 years
Issuing authority
Jabatan Akauntan Negara Malaysia
Fees shown are government / local-authority fees payable to the issuing agency. Emerhub charges a separate service fee for handling the application end-to-end.
Eligible applicants
Individuals
Application requirements
- Applicant must be a citizen or permanent resident of Malaysia.
- Applicant must be a member of a professional body specified under subsection 433(5) of the Companies Act 2016 and hold a valid Practising Certificate.
- Applicant must not be an undischarged bankrupt in or outside Malaysia.
- Applicant must not have been convicted of any fraud-related offenses within the last five years.
- Applicant must not have been convicted of any offenses related to the formation or management of a corporation.
- Applicant must have at least five years of full-time work experience in insolvency or corporate restructuring.
- Applicant must submit a sponsor letter from an approved resolver supervising their work.
- Applicant must have the capacity to perform duties as a liquidator/resolver.
- Applicant must not have any unresolved enforcement actions or legal proceedings against them under the Companies Commission of Malaysia Act 2001.
Agency fee breakdown
Processing fee for renewal of approval as a Resolver is RM 50.00 to be paid electronically during application submission.
These are amounts payable to Jabatan Akauntan Negara Malaysia. Emerhub's service fee is quoted separately when you engage us.